Stock Market Reaction on Olympic Sponsorship Announcement Using Event-study Method

• 영문명: Stock Market Reaction on Olympic Sponsorship Announcement Using Event-study Method
• 발행기관: 한국마케팅과학회
• 저자명: George S. Spais George N. Filis
• 간행물 정보: 『JGAMS』마케팅과학연구 제16집 제2호, 95~108쪽, 전체 14쪽
• 주제분류: 경제경영 > 경영학
• 파일형태: PDF
• 발행일자: 2006.06.01

영문 초록

  The major objective of this study is to test if an Olympic Games sponsorship program can influence investors" behavior stock returns, stock volatility and transaction volumes. The paper deals with stock market reaction on Olympic sponsorship announcement for service organizations using event study method. Our research intention is to test 440 daily stock prices and transaction volumes, in order investigate the potent influence between the announcement of a grand sport sponsorship program and investors" behavior. For this study we examined the announcement data of three grand sponsors of Olympic Games of Athens 2004 (Alpha Bank, Delta and G.T.O.). The main contribution of this study is to examine how stock investors" behavior is influenced by the sponsorship program of companies and to extend research scope of marketing field toward stock market. They authors suggest that organizations interested in influencing investors" behavior should invest in sponsorship activities at the sports" sector.

목차

〈Abstract〉
Ⅰ. Introduction
Ⅱ. Method
Ⅲ. Results
Ⅳ. Discussion
Ⅴ. Conclusion
References
Appendix

키워드

Olympic sponsorship announcement and event study method